JSE-listed property investment and development company Pivotal Property Fund (Pivotal) and property developer Abland broke ground on their Loftus Park development last month. The mixed-use development is adjacent to the home of Pretoria-based rugby team the Blue Bulls, Loftus Versfeld sports stadium.
The development is co-owned in equal share by Pivotal and Abland, with Abland being appointed the property developers.
Construction will begin in the first quarter of 2016 and the completion of Phase 1 will take place in the last quarter of 2017. Property management company Abreal will be appointed as the property managers upon completion.
The development will comprise A- and Premium-grade commercial office space, a public exhibition centre, a craft brewery, retail, Virgin Active gym and restaurants surrounding an open air piazza.
“We are excited about this unique development and believe we’ve raised the bar with an exceptional mixed-use concept located in the heart of one of our country’s richest historical rugby institutions,” says Pivotal CEO Jackie van Niekerk.
He adds that the development is in an exclusive location with good proximity to the Union Buildings, embassies, the University of Pretoria and various prestigious schools and hospitals.
Loftus Park is convenient, and easily accessible, from all major transportation routes in Gauteng. The close proximity to the Hatfield Gautrain station connects Loftus Park to Centurion, Rosebank, Sandton, Johannesburg and OR Tambo International Airport.
The latest sustainable green building practices will be used and energy efficient technologies will be implemented to save utility costs for the prospective tenant. This should ensure a Green Star rating, a landmark of excellence for environmentally sustainable buildings, for Loftus Park.
“Loftus Park will make provision for an uninterrupted shopping and working experience with back-up generators, emergency water storage as well as top connectivity through a state-of-the-art IT system,” concludes Van Niekerk.